At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is having a subdued day. The benchmark index is down 0.1% to 7,033.5 points.
Here’s what is happening on the ASX 200 today:
St Barbara shares rise on takeover speculation
The St Barbara Ltd (ASX: SBM) share price is storming higher today after being tipped as a takeover target. According to the AFR, the beaten down gold miner’s Gwalia underground mine and processing plant is believed to be of interest to nearby gold miners. These include Northern Star Resources Ltd (ASX: NST) and Ramelius Resources Limited (ASX: RMS).
CSL share price higher on TGA news
The CSL Limited (ASX: CSL) share price is pushing higher today. This appears to have been driven by reports that the TGA has approved a super flu jab by its Seqirus business for children as young as two years old. The Flucelvax Quad vaccine was the first cell-based seasonal influenza vaccine offered in Australia when it was first approved in 2021.
Magellan shares rated as a sell
The Magellan Financial Group Ltd (ASX: MFG) share price could still have room to sink further according to analysts at UBS. This morning the broker retained its sell rating and cut its price target down to $13.50. It has concerns over long term structural fund outflows in the retail channel and emerging risks in infrastructure outflows.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Tuesday has been the St Barbara share price with a 7% gain. This follows speculation that it could be a takeover target. The worst performer on the index has been the BlueScope Steel Limited (ASX: BSL) share price with a 6% decline on no news.
The post ASX 200 (ASX:XJO) midday update: CSL and St Barbara charge higher appeared first on The Motley Fool Australia.
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More reading
- Here’s why the St Barbara (ASX:SBM) share price is leaping 8% on Tuesday
- 5 things to watch on the ASX 200 on Tuesday
- Here are the top 10 ASX shares today
- WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
- Why is the Fortescue (ASX:FMG) share price having such a stellar start to the week?
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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